Boston, MA 10/16/2014 (wallstreetpr) – QUALCOMM, Inc. (NASDAQ:QCOM) aligned with Qualcomm Robotics Accelerator (Techstars) to initiate a four-month startup program at its corporate campus, San Diego. The initiative intends to support the development of next-generation robotics and intelligence machines.
Qualcomm will select approximately ten companies to participate in the mentorship-driven program. So, the participants will build the next generation smart machines through a combination of mechanics and intelligent controls, sensors, computer vision, navigation and wireless communication.
QUALCOMM, Inc. (NASDAQ:QCOM) commits to provide an aggregate funding of $1 million to the participants and also offers both technical and business insights on robotic technology through this program. In addition, the participants will benefit by leveraging the advantage of Techstars’ network of more than 3,000 people, which includes mentors, entrepreneurs, corporate partners and investors.
The application submission process will continue till February 22, 2015, and the program will begin on May 2015 and conclude on September 2015.
Enhance robotics platform
Qualcomm developed more efficient robotics platform such as Robotics Accelerator using owned Snapdragon processor to provide integrated low power solution for different applications of robotics.
Moreover, QUALCOMM, Inc. (NASDAQ:QCOM) already announced the new Zeroth technology to enhance the operational capabilities in mobile devices (smartphones) and robots. The technology embedded in Snapdragon already demonstrated the performance in identifying the different models of toys.
Qualcomm Technologies’ CTO, Matt Grob said that the smartphone technology development will bring significant impact over the technology sector as well as robotics. QUALCOMM, Inc. (NASDAQ:QCOM) will help the entrepreneurs and innovators to utilize the new technologies to transform their businesses.
Techstars, MD, David Cohen also said that QUALCOMM, Inc. (NASDAQ:QCOM) already had a group of robotic companies and expected to include few new companies through this program and strong support from Qualcomm in mobile technology. David also mentioned that Techstars will now focus majorly on robotics as the segment is one of the rapidly growing markets.